Paychex, Inc. announced that on May 16, 2024, Stephanie Schaeffer, Vice President, Chief Legal & Ethics Officer, and Secretary of the company notified the Board of Directors of the Company of her intention to retire effective as of August 2, 2024. Ms. Schaeffer will serve in her current role until a successor is appointed and then shall serve as a senior advisor to the Company to assist with transition on a full-time basis at her current base salary until her retirement date.